Actuary apprenticeship

Use mathematical skills to measure the probability and risk of future events, and their financial impact

An actuary engages in financial modelling, using mathematical skills to measure the probability and risk of future events, and their financial impact on a business or individuals. During the actuary apprenticeship, you’ll learn to ply your trade in different areas, such as insurance, pensions, healthcare, investment and financial risk management. Working as part of a team, you’ll analyse significant bodies of data, build mathematical models to evaluate financial risks, and communicate the results to non-specialists. Maths and analytical skills are important, but you’ll also develop the ability to communicate complex subjects in more simple terms. Depending on the industry, you’ll work in pricing and product development, reserving, capital modelling and risk management (insurance), or in less traditional fields, such as banking. This apprenticeship will allow you to apply for professional membership at the Institute and Faculty of Actuaries.

Duration: 36 months

Relevant school subjects: Maths

Entry requirements for the actuary apprenticeship: A degree in maths, statistics, economics, engineering, chemistry or physics; a degree in a different subject with an A-level in maths, or equivalent; or a level 4 actuarial technician apprenticeship

Achievement upon completion: Level 7 (Higher)—equivalent to a master’s degree

Potential salary upon completion: £47,000 per annum

Find out more: www.apprenticeshipguide.co.uk